Mozart Finance Have Been Hacked

Hacks and exploits are increasingly common in the DeFi space and especially right now on the BSC network. Various projects have reported hacks and codes exploit. Yesterday, the Mozart Finance code was exploited.

By
Wilfred Victor
on
April 6, 2021
Category:
Breaking News

Mozart Finance Got Hacked

Informed by this Tweet from its official handle, the Mozart Finance code has been exploited. A follow-up Medium post has been released to explain the problem. Judging by the situation and from the post, this exploit is self-inflicted as it was done by a developer outsourced from FreeLancer.


It turns out this outsourced developer slipped in a minting code without the original developers from the team and the project owners noticing. The project team had the code audited before deployment on the BSC network but failed to check the codes thoroughly again. After the audit it seems the outsourced developer must have handled the codes.

According to the team, the last contract used on the test network was 100% secured; immunity Byte was paid to audit the code and was given a save rating.


STOP BUYING $PIANO!

For now, the team has warned traders through its handle to halt the purchase of $PIANO as the exploit hacker has minted over 100,000 PIANO tokens and is actively dumping.

In short, we strongly advise you not to buy PIANO because the contract has NOT been fixed and is not safe. We are very sorry, but this is the inconvenient truth.”

- Mozart Finance Team.


About Mozart Finance


Mozart Finance is a fork from similar PancakeSwap and other Dex AMM DeFi projects. It aims to deliver DeFi features exclusively away from the traditional types. PIANO is the native token of the platform with the burn mechanisms embedded in its code to control inflation and a buy-back program to maintain the price.


Users Response

The response so far under the official tweets hasn’t been friendly as many users suspect this may be deliberate. A glance through the Telegram group, which is now locked due to the unsupporting and insulting users’ statements, does not look good.

Users still have the opportunity to vote any of the three options available to pick from;

  • Airdrop new tokens to PIANO holders in a 1-to-1 ratio
  • Redeploy PIANO smart contract and give a fair launch
  • Close the project


Final Thoughts

Code exploits are still very much inevitable and prevalent within smart contracts. While some may be without the project team’s control, others are deliberate as a type of exit scam.

From the look of things, this is far from over for the Mozart Finance team as the odds are not on their side judging from the angry users’ response both on Twitter and Telegram platforms.

Again, we strongly advise applying caution to your trades, taking profit when available, and ensuring your investment does not use an “outsourced” development team. By the way, you can take part in tracking the scammer’s address

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.